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Realogy responds to 'negative' outlook

By Inman News, Monday, April 7, 2008.

Realogy Corp.'s chief financial officer has responded to a "negative" outlook issued by Standard & Poor's Ratings Services with a statement about the company's financial footing.  more...

Luxury broker jumps into social networking

By , Monday, April 7, 2008.

If you were asked to name a social networking site that can claim as members a heavy equipment operator from Alaska, a nurse from New Mexico, and an insurance broker from Hawaii, you'd probably be right if you said MySpace.

With more than 110 million members, MySpace boasts a user base representing people from all walks of life. But you might be surprised to learn that the social networking site with the diverse membership listed above was created by Chase International, one of the nation's most prominent brokers of luxury properties.  more...

Property taxes too high? File an appeal

By Tom Kelly, Monday, April 7, 2008.

It's the time of year when you always wonder why you didn't pay your property taxes along with your monthly mortgage payment. The idea of keeping the money in the bank and earning interest sounds great, but actually doing it is another matter.

That huge figure at the bottom of the assessor's coupon statement adjacent to the bold-face words "KEEP THIS PORTION" could have been chopped into 12 pieces that now sound affordable, and whisked away each month with your principal and interest, taxes and insurance payment, commonly known as "PITI."  more...

Homeowner not sold on septic-tank maintenance

By Barry Stone, Monday, April 7, 2008.

Dear Barry,

We received a letter from the company that pumped our septic tank when we bought our home last year. They recommended that a household of two people should pump the septic tank every one-and-a-half to two years. They also recommended a septic additive that they sell for $30 per gallon. It's supposed to break up the solids in the tank, and they claim it's better than the kind you buy at the hardware store. According to my neighbor, the tank should be pumped every five years. What's the best advice for maintaining our septic system? --Larry  more...

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Flipping through real-life headlines

By Jessica Swesey, Monday, April 7, 2008.

It's true that tidbits and anecdotes rarely tell the whole story. Neither do headlines.

It's still fascinating to peruse the tidbits on the housing market by putting ear to the ground and listen to what agents and brokers in the field are saying. Here's what I've learned in the last few days via Twitter.

--"Lost another offer today to a seller negotiating from what they 'want' to make." -- Jim Duncan, RealCentralVA.com  more...

Wages lag behind rental rates

By , Monday, April 7, 2008.

Despite an increase last year in the federal minimum wage and the majority of states that offer a higher minimum wage, the rise of rental rates has outpaced the earnings of low-wage and moderate-wage workers, according to a report released today by the National Low Income Housing Coalition, a national group that advocates for affordable housing.  more...

Leasing momentum continues at Eastern PA property

By Inman News, Monday, April 7, 2008.

GPX Realty recently closed 20,000 square feet in new lease agreements at the 17-building office complex located in Chester and Montgomery Counties in Pennsylvania.

The Woods Office Center is made up of 17 buildings and 570,000 square feet of office space situated on 77 acres.

The property also has another 32,000 square feet of space under commitment, according to GPX Realty Partners LP, which acquired the office center last year in one of the largest commercial real estate transactions in suburban Philadelphia.  more...

Boston investor purchases Northern California property

By Inman News, Monday, April 7, 2008.

Eaton Vance Management's real estate investment group announced today that it has acquired a Santa Clara, Calif., building with a value of approximately $53 million, on behalf of investment funds that it manages.

The investment is an office/research and development building situated on 14.51 acres in the San Francisco Bay Area approximately 10 minutes from the San Jose International Airport.

The 218,366-square-foot property is currently leased on a long-term basis to a pharmaceutical and medical research company.  more...

Grubb & Ellis buys apartments in Austin suburb

By Inman News, Monday, April 7, 2008.

Grubb & Ellis Apartment REIT Inc. announced the acquisition of Arboleda Apartments in the Austin-suburb of Cedar Park, Texas.

The value of the transaction was not disclosed.

Arboleda Apartments is a 312-unit multifamily property totaling approximately 250,000 gross leaseable square feet. Completed in 2007, the property consists of 13 two- and three-story buildings that offer six different floor plans ranging in size from 650-square-foot one bedroom/one bath units to 1,230-square-foot three bedroom/two bath units.  more...

Overnight drop in real estate rates

By Inman News, Monday, April 7, 2008.

Long-term mortgage interest rates fell again Friday, and the benchmark 10-year Treasury bond yield decreased to 3.47 percent.

The 30-year fixed-rate average sank to 5.65 percent, and the 15-year fixed rate dipped to 5.23 percent. The 1-year adjustable rate slipped to 5.68 percent.

The 30-year Treasury bond yield was down at 4.31 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...